A consortium led by global private capital fund manager CVC Capital Partners has agreed to acquire a 30 percent stake in GEMS Education, a UAE-based K-12 school operator. The investment will facilitate exits for global principal investment firm Fajr Capital, global alternative asset manager Blackstone Group, and Bahraini sovereign wealth fund Bahrain Mumtalakat Holding Company. GEMS has concurrently launched a refinancing program, which is expected to include bonds and loans. CVC will invest through its Strategic Opportunities Platform. Financial details of the transaction, which is expected to close by the end of July 2019, were not disclosed.